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FXCM vs Interactive Brokers 2020

Is FXCM better than Interactive Brokers? After testing 30 of the best forex brokers over five months, FXCM is better than Interactive Brokers. While its range of tradeable markets is narrow and pricing is just average for everyday trading, FXCM caters to multiple trader types. High-volume traders, algorithmic traders, and, overall, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a good fit.



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature FXCM Interactive Brokers
Overall 4.5 4.5
FXCM Review Interactive Brokers Review
75.38% of retail CFD accounts lose money 66% of retail CFD accounts lose money

Regulation

Feature FXCM Interactive Brokers
Trust Score 92 94
Year Founded
1999 1977
Publicly Traded (Listed)
Yes Yes
Bank
No No
Tier-1 Licenses
3 6
Tier-2 Licenses
2 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature FXCM Interactive Brokers
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
Yes Yes
SFC Authorised (Hong Kong)
No Yes
FSA Authorised (Japan)
No Yes
MAS Authorised (Singapore)
No Yes
FINMA Authorised (Switzerland)
No Yes
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No Yes

Investments

Feature FXCM Interactive Brokers
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes No
Currency Pairs (Total Forex pairs)
39 105
CFDs - Total Offered
32 7400
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3.5 4.5
Winner check_circle

Cost

Feature FXCM Interactive Brokers
Average Spread EUR/USD - Standard
1.3 (as of Q2 19) N/A
All-in Cost EUR/USD - Active
0.7 (as of Q2 19) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 4
Winner check_circle

Funding

Feature FXCM Interactive Brokers
Minimum Initial Deposit
£300 $0
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes No
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
Yes No

Trading Platforms

Feature FXCM Interactive Brokers
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes No
MetaTrader 4 (MT4)
Yes No
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature FXCM Interactive Brokers
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 494
Charting - Indicators / Studies (Total)
57 121
Charting - Drawing Tools (Total)
18 9
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 4.5
Winner check_circle

Mobile Trading

Feature FXCM Interactive Brokers
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
No Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
60 70
Charting - Draw Trend Lines
Yes No
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes No
Mobile Trading 4 4
Winner check_circle

Research

Feature FXCM Interactive Brokers
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
Yes Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 4.5 4.5
Winner check_circle

Education

Feature FXCM Interactive Brokers
Has Education - Forex
Yes Yes
Has Education - CFDs
No Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Education 4 4
Winner check_circle

Major Forex Pairs

Feature FXCM Interactive Brokers
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes

Overall

Feature FXCM Interactive Brokers
FXCM Review Interactive Brokers Review
Overall 4.5 4.5
Winner check_circle

Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs Interactive Brokers.

Does FXCM or Interactive Brokers offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is FXCM or Interactive Brokers safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Interactive Brokers holds 6 global Tier-1 licenses, while FXCM holds 3. FXCM holds 2 global Tier-2 licenses, while Interactive Brokers holds 0. All regulators considered, Interactive Brokers has a Trust Score of 94.00, while FXCM's Trust Score is 92.00.

Which trading platform is better: FXCM or Interactive Brokers?
To compare the trading platforms of both FXCM and Interactive Brokers, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXCM offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. While FXCM offers copy trading, Interactive Brokers does not. FXCM offers MetaTrader 4 (MT4), while Interactive Brokers does not.

How many forex pairs and CFDs are available to trade?
Interactive Brokers provides traders 105 currency pairs (e.g., EUR/USD) compared to FXCM's 39 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 7400 CFDs while FXCM has 32 available CFDs, a difference of 7,368.

Overall, between FXCM and Interactive Brokers, FXCM is the better forex broker.

FXCM Review
Interactive Brokers Review

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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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